Talent attraction strategy of samsung vietnam

International Journal of Advanced Research and Development International Journal of Advanced Research and Development ISSN: 2455-4030; Impact Factor: RJIF 5.24 Received: 26-05-2020; Accepted: 13-06-2020; Published: 27-06-2020 www.advancedjournal.com Volume 5; Issue 3; 2020; Page No 18-22 Talent attraction strategy of Samsung Vietnam Nguyen Hoang Tien1, Leo Paul Dana2, Rewel Jiminez Santural Jose3, Nguyen Van Dat4, Nguyen Thi Hoang Oanh5, Bui Xuan Bien6 1, Saigon International University, Vietnam Montpellier Business School, Vietnam Tay Nguyen University, Vietnam Thu Dau Mot University, Vietnam Finance and Banking University, Hanoi, Vietnam Abstract At Samsung, people are always considered the most important factor Therefore, Samsung always pays special attention to training programs, developing human resources with the goal that each Samsung employee is not only good at expertise, but also has a broad cultural and social knowledge To that, Samsung has focused on building a variety of training programs, not just for new employees, but for all employees at all levels throughout the company The training content also aims to provide knowledge and skills suitable to the company's production and business activities, and to keep pace with the development trend of the society As a result, those training programs have solved the human resource difficulties Samsung has encountered Evidence is that Vietnam has become Samsung's largest manufacturing base globally, with more than 33% of Samsung phones being manufactured here This can also be considered a major contribution of a foreign corporation in the process of training human resources in Vietnam, when the domestic education system has not met the demand In addition to contributing to job creation, investment attraction, and economic restructuring in Vietnam, Samsung also contributes to the development of high-quality human resources in Vietnam Besides attracting talent is a matter of concern for many businesses At Samsung Vietnam, attracting talents is also one of the important issues in human resource management However, attracting talents is not merely building policies to attract employees It is also the deployment of activities to promote those values to outside workers to know better, to be aware of the company's policies and regimes Keywords: human resource management, talent attraction, Samsung, Vietnam Introduction Gone are the days of the "Sage giving to the nation" Now, if leaders not know how to attract, employ and retain talented employees, they will probably "fly" to other potential companies, the problem is only sooner or later Talent is the national spirit The stronger the air is, the stronger and bigger the water is; the weaker the air, the lower the water Today, in the era of knowledge economy and globalization, the attraction and employment of talented people in state management in general, and the operation of state administrative agencies in particular Over the past time, our Party and State have always affirmed the importance and issued a number of policies to attract and respect talented people, initially achieving some remarkable results However, in reality these policies have not been effective as expected, have not detected properly and attracted many capable and qualified people to work in the civil service At the same time, a part of cadres and civil servants with high qualifications and capacity in state agencies resigned to move to the private sector That situation is due to many objective and subjective reasons, such as: working environment and mechanisms and policies, inadequate remuneration; shortcomings in the recruitment, appointment and employment of cadres and civil servants, etc At present, the competitive advantages of the companies are having good, thoughtful, dynamic and bright human resources As the leader of an organization, you have probably asked yourself many times: How to recruit a good employee? In fact, it is difficult to recruit good employees, it is even more difficult to retain them Whether they leave after training or have solid experience is what makes most business leaders headache Many people believe that the only strategy of retaining employees is to clearly express their rights and responsibilities in labor contracts But that is not the only way Performance, motivation for commitment and determination to perform well the work of employees depends on the working conditions they enjoy Attracting people is the top goal of businesses, where human resource management is always focused In fact, it is not like that, after recruiting talents and enterprises that not have methods to keep them, they have no meaning (Cuong, 2010; Dung, 2005; Hang, 2015; Hanh, 2015) [2, 3, 4] In order to contribute to solving the above problems and meeting the requirements, it is necessary to have a systematic study of theory and practice, on which basis, propose suitable practical solutions to Vietnam's specific conditions and circumstances in attracting and appreciating talented people in state administrative agencies (Loc, 2012; Thinh, 2005) [8, 11] Therefore, we chose studying the topic "Strategy of attracting talents of Samsung Vietnam" 18 International Journal of Advanced Research and Development www.advancedjournal.com Theoretical framework 2.1 Fundamental concepts Human resources Human resources is one of the important factors determining the success and development of each organization and every country Therefore, all organizations and countries in the world are very interested, focusing on human resources Human resources are not merely the workforce that has been and will be, but also the strength of the physical, mental and spiritual strength of individuals in a community or a given country that have the ability to put into use in the process of social development Thus, this study will focus on considering human resources from the perspective of the overall labor potential of officials and employees in the organization These labor potentials are factors that need to be discovered and promoted to bring about certain successes for the organization (Tien, 2017; Tien et al, 2019a; Tien & Anh, 2017) Talent Talents are people who are intellectually, physically and more productive than others and make significant contributions to the field in which they are involved In a broad sense, talented people can also understand that they are passionate, have the will to contribute and contribute to society with all their talents, they have or will surpass other people intellectually, physically and in terms of working efficiency In fact, each enterprise with different specific types has different views, perspectives on talent Talents will be studied from the perspective that people are not only competent, able to work but also suitable to the culture, specific characteristics of the business, work ethic and dedication to the business (Tien, 2013; Tien, 2019; Tien, 2019a) Attracting talents policies In human resource management, attraction is to provide employees with a quality working environment, opportunities and competitive benefits And according to Jane Kennelly, attracting talent today is not just recruiting ads, but building employer brands to appeal to talented people As such, attracting talents is an activity in managing talents, which uses appropriate measures to attract people with excellent experience and skills to work in a suitable position in business Karma More specifically, the policy to attract talents is referred to as the development of mechanisms and policies on salaries, development training, building an attractive working environment and corporate culture to meet the expectations of the workers At the same time, building communication policies to promote these attractive elements, recruitment policies to easily recruit suitable and talented employees who are devoted to organization and its businesss (Tien, 2015; Tien & Anh, 2019) organization will have attractive values Minimize training costs As mentioned above, talented people are people with values, qualities and competencies suitable for the business Therefore, when businesses attract talents, the enterprise has recruited people who meet the requirements of the business Besides, the talents themselves contain the available values, the competencies suitable for the job So businesses not need to spend a lot of training costs on talented people Low personnel volatility When attracting talents, businesses will have to build good policies, regimes on compensation, development training, etc., which are conditions that meet the wishes of workers and are always created for people Labor challenges, opportunities to develop yourself Therefore, the process of building attractive factors to attract financial talents is to bring the employees' commitment and commitment to the enterprise When the cohesion of employees to the business increases, it means that the rate of employees leaving the company will decrease Thus, the fluctuations in human resources will be significantly reduced Increase the productivity of workers In many respects, attracting talent obviously contributes to increasing productivity of workers Firstly, workers with the right skills, experience and knowledge will quickly catch up with the job They not only have professional knowledge, but also a good sense and attitude They always know how to set goals for themselves at work, this is an important factor contributing to increased efficiency In addition, competent and professional people also contribute to work improvement initiatives that increase job productivity The working environment where employees are concerned, encouraged and they are highly appreciated for their contributions Therefore, it increases the enthusiasm and dedication of employees to the work, contributing to improving work performance Increase operational efficiency of the business Thanks to the policies and activities of attracting talents, businesses will easily recruit quality human resources and recruit large numbers This is essential to meet the manpower for the project For each project, human resource is an important factor, so businesses will not waste business opportunities due to lack of human resources In addition, recruiting and retaining competent people suitable for the business is an essential element for the development and maintenance of competitiveness of the business With a team of good, professional employees, the business will increase customer satisfaction on the quality of products and associated services Therefore, not only increase sales of businesses but also increase competition in the market (Tien, 2012; Tien, 2012a; That, 2008; Cuong, Huyen, & Mai, 2004; Thuy, 2010) [1] 2.2 The role of attracting talents Reduce the cost of recruiting Attracting talent means promoting business image, implementing policies, remuneration, building culture, working environment, creating businesses to become an ideal workplace, as Workplaces deserve the dream of workers Once a good mechanism has been developed to meet the needs of workers, it will inevitably benefit the organization Firstly, it will bring a position for businesses in the battle of talent competition Besides, talented people are also the factor that attracts talented people Talents in the 2.3 Factors affecting the attraction of talents in the business Internal factors Attracting talent in the business is influenced by many different factors, both within the enterprise itself and the impact of external factors Therefore, in order to attract talents, businesses need to carefully study such factors as (Tram, 2012; Hoa, 2011; Nham, 2015; Hieu, 2016): - Prestige and position of the business - Viewpoints of the employer - Financial capacity 19 International Journal of Advanced Research and Development www.advancedjournal.com External factors -Legal policy -Social and economic conditions -Professional position -The development of education and training system -Competitors Research results Current situation of talent attraction policy Attracting talents is the concern of many businesses At Samsung Vietnam, attracting talents is also one of the important issues in human resource management However, attracting talented people is not merely developing policies to attract employees, it is also the implementation of activities to promote those values to the outside and inside of businesses to be known better, aware of the company's policies and regimes These activities have also been partly mentioned in Samsung's talent attraction strategy, but there have been no specific investments and plans Actual recruitment policy status Samsung does not have a well-established recruitment policy Therefore, there is no plan to recruit by year, mainly irregular recruiting at the proposal of the departments The recruitment process of Samsung Vietnam consists of a profile step, and two rounds of interviews, first round with HR department, second round with direct management and company leaders The company has also had candidates' evaluation forms with all criteria on appearance, skills, knowledge, expertise, experience However, there are no specific provisions on welcoming candidates as invitation letters to interview, answer results Especially in Samsung's recruitment policy, there are no clear regulations on determining recruitment sources and recruitment costs Actual situation of salary, bonus and welfare policy  Salary: Samsung always has a clear salary and bonus The salary of the employee will be calculated based on the time he / she works in the employee's company The long-term association with the company, the higher the fixed salary of the employee, the basic salary will increase according to working year to a certain extent (Particularly for Samsung branch in Vietnam, the average salary for a direct production employee is about 300 USD / month) In addition to the basic salary, the employee also has an overtime wage When working, employees working overtime in the day will be increased 150% of the hourly wage If overtime on Saturday, Sunday increase will be 200%  Bonus: Samsung workers are always encouraged to come up with useful ideas for the company If the idea is adopted and applied, the worker will receive a bonus Samsung always has a pretty generous bonus regime When the department achieves a high result, everyone will get a corresponding bonus Lunar New Year bonuses 100% salary; Tet holidays have gifts to motivate employees; reward seniority, reward employees for achieving excellent results in the quarters and in the year  Allowances and subsidies: Samsung always provides allowances for employees In Korea, to create accommodation for employees, Samsung built a dormitory with full amenities: dining room, gym, library, and bar Coffee is very popular in Korea, the cafe here even has its own roasting box, and employees who not live in the dormitory will have a separate   housing allowance In Vietnam, the company also supports 20 USD of living allowance to support employees to rent houses, petrol and cars For employees who have to find accommodation to stay in, the Company has a department in charge of surveying lodging rooms and will take employees to the rooming area to rent Currently, Samsung has completed the construction of 09 dormitories (each building has floors), with a capacity of 7,800 employees has been arranged in all rooms and is continuing to build more new buildings for households Insurance: Samsung has also implemented well the insurance policies for employees (Social Insurance, Health Insurance and Unemployment Insurance) in accordance with the Labor Law and the State Social Insurance Law right from the start of the first month of employment at the company Other welfare regimes: Welfare benefits for employees are also very interested by Samsung leaders, with many initiatives in improving the quality of bus services for factory employees; improve the management of the cafeteria with a comfortable, friendly atmosphere, delicious meals and safety in the factory, ensuring the health of workers In addition, Samsung employees are also provided free mid-day meals, employees at dormitories or boarding houses if staying in the company, they will receive 50% of the meals Advantages It can be seen that in the process of formation and development of Samsung Vietnam, in addition to constantly striving to promote business activities, has also focused on promoting to consolidate human resources From understanding the most basic needs and desires of employees, Samsung Vietnam has built for the enterprise the most basic foundation in human resource management, initially focusing on development policies to attract talents, specifically: + Develop policies to attract talented people the salary, monthly income to meet the majority of workers + Implement activities to attract talents Disadvantages Besides the achieved results, Samsung Vietnam still has certain limitations in attracting talents The company has not really invested in building policies and regimes to retain and attract talents Especially not focused on promoting the business image to potential candidates, talented business people are looking for The new policies on salaries, bonuses and training partly meet some basic human needs that are not really competitive, and not touch the psychology of excellent talents - labor, management positions because with talent, their needs will be higher than their basic basic needs In particular, offline communication channels have not yet been exploited such as participating in events, recruitment days and job fairs With the forms of attracting talents with scholarships, the company has never exploited it Therefore, businesses have not attracted many talents interested in joining their businesses Discussion To attract talented people, there are many components from salary, bonus, welfare to training and development opportunities as well as the working environment, but not 20 International Journal of Advanced Research and Development all companies well in all aspects, with Samsung Vietnam, too It is difficult to compete in all aspects, so the company needs to identify for yourself what the strength is, or in other words, need to position your employer brand in the market and must understand clear positioning value The difference of the company with competitors Why candidates join Samsung Vietnam but not the rival company? Since then more focused on that aspect Therefore, in order to build an accurate way to attract talented people, Samsung Vietnam needs: - Solving the problem of human resources shortage - Develop specific, detailed and reasonable training mechanism, from there in stages, as well as annually based on the business development orientation of training planning - Before making policies, it is necessary to review the legal framework to ensure that the policies are formulated in accordance with the law - To ensure that the principles of the talent attraction policy are followed, there is a need to distinguish responsibilities among different departments, must be clearly defined and guaranteed to serve the company's interests - Vocational training through association and direct work at the enterprise, training of high-quality human resources along with good remuneration www.advancedjournal.com 10 Conclusion and Recommendation Vietnamese employees make the success of Samsung Vietnam So having a good staff greatly affects the success of Samsung However, with the social environment moving to the knowledge economy, the human knowledge element is becoming more and more important than technology, capital and raw materials Thus, to win the business market, Samsung needs to invest in the development of its human resources Especially attracting many talented people to the army Based on the specific analysis and assessment of the situation and the theoretical system, we have proposed some suitable solutions for Samsung to improve the attraction of talent at the company From clearly identifying the object called the talent of Samsung Vietnam, there are young people with development potential, who have experienced holding positions of experts and advisers of Samsung To determine the strong points in talent attraction factor at Samsung is the welfare policy Since then, it has pushed for attractive measures, namely offering solutions on communication of Samsung human resource management policies and solutions for recruiting more effective human resources Samsung should form a system of basic elements that serve as the basis for identifying talent The formation of basic factors for talent recognition is also meaningful to policy formulation, implementation of specific measures to attract and respect talents Thereby creating a fair, objective and competitive working environment based on real talent Besides, Samsung should attach importance to training and fostering to create talented human resources for public affairs and high-quality human resources for society Training programs should be developed to suit each talented group In addition, it should create more conditions for salary, bonus and benefits to attract talents 11 12 13 14 15 16 17 18 19 20 References Cuong LA, Huyen NTL, Mai NT Methods and personnel management skills - Social Labor Publishing 21 House, Hanoi, 2004 Cuong PT Human resource management at Hanoi Medical Equipment Joint Stock Company, 2010 Dung TK Human Resource Management, Statistical Publishing House, Hanoi, 2005 Hang PT Attracting talents at IIG Vietnam Joint Stock Company, Master's thesis in human resource management, University of Social Labor, Hanoi, 2015 Hanh PTU Master's thesis on human resource management, Human resource work of Pha Lai Thermal Power Joint Stock Company, University of Social Labor, Hanoi, 2015 Hieu N Learn how to successfully train human resources at Samsung, Kynabiz Magazine, December 29, 2016 https://kynabiz.vn/bai-viet/hoc-hoi-dao-taonguon-download-luc-tai-samsung.html? 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